The Power House, Venny Bridge Exeter, currently let to Power Packing Export Services, has been sold to a private local investor. The property, which comprises 7,448 sq.ft. and formed part of a larger unit that was sub divided in the past, was on the market for £395,000 which show an equivalent yield of 6.64%. The freehold interest in the property was sold with the benefit of the existing lease and income which was due for a increase.
Industrial yields have been falling quite significantly over the past few years and whilst stock remains short and interest rates low, investors are able to make significant gains. The owner occupier market has also pushed further ahead with values in this sector which is keeping completion in the sector very strong.